세계의 지열발전 시장 : 컴포넌트별, 유형별, 발전소 규모별, 사이트별, 전개 유형별, 용도별, 산업분야별 예측(2025-2030년)

The Geothermal Power Generation Market was valued at USD 7.74 billion in 2023, expected to reach USD 8.28 billion in 2024, and is projected to grow at a CAGR of 7.53%, to USD 12.87 billion by 2030.

The geothermal power generation market involves the production of electricity using heat from the Earth's interior, accessed through wells drilled into geothermal reservoirs. This sustainable energy source is gaining attention due to its low carbon footprint and reliability compared to other renewable sources. Geothermal energy is crucial for regions with abundant geothermal reserves, contributing to energy security and diversity. It finds applications primarily in power generation for industries, residential heating, agriculture via greenhouse heating, and district heating systems. The end-use scope includes utilities, commercial, and industrial sectors. Market growth is influenced by increasing governmental support through incentives and policies promoting renewable energy, technological advancements in enhanced geothermal systems (EGS), and rising energy demand, particularly in areas with favorable geothermal resources. Economic factors such as fluctuations in oil prices and the competitive cost of other renewable sources also play roles. Emerging regions like East Africa, Southeast Asia, and South America present potential opportunities, given their untapped resources. However, the market faces limitations, including high initial capital costs, geographical constraints limiting resource availability, and environmental concerns related to drilling and waste management. Opportunities exist in developing low-temperature technologies and hybrid geothermal systems, which can enhance efficiency and reduce costs. Innovations such as closed-loop systems and supercritical CO2 power cycles offer promising avenues for research and development, potentially expanding the geographical applicability of geothermal energy. The nature of the market is somewhat niche, requiring specialized investments and technical expertise. Firms can position themselves by focusing on strategic partnerships for technology sharing, tapping government grants, and developing solutions tailored to local conditions. Overall, embracing sustainable practices and investing in research can unlock growth, with particular emphasis on reducing dependency on conventional energy sources.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Geothermal Power Generation Market

The Geothermal Power Generation Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

• Market Drivers
  • Growing energy demand due to rapid industrialization and urbanization
  • Government-supportive policies and initiatives for renewable energy projects
• Market Restraints
  • Significant upfront costs associated with geothermal power generation
• Market Opportunities
  • Continuous improvements in drilling and exploration technologies
  • Increasing number of partnerships and investments in geothermal power generation
• Market Challenges
  • Stringent environmental issues associated with geothermal power generation

Porter's Five Forces: A Strategic Tool for Navigating the Geothermal Power Generation Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Geothermal Power Generation Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Geothermal Power Generation Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Geothermal Power Generation Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Geothermal Power Generation Market

A detailed market share analysis in the Geothermal Power Generation Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Geothermal Power Generation Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Geothermal Power Generation Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Geothermal Power Generation Market

A strategic analysis of the Geothermal Power Generation Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Geothermal Power Generation Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Aboitiz Power Corporation, Altarock Energy Inc., Ansaldo Energia S.p.A., Atlas Copco Group, Baker Hughes Company, Berkshire Hathaway Energy Company, Calpine Corporation, Carrier Global Corporation, CeraPhi Energy, Climatemaster, Inc., Contact Energy Limited, COWI A/S, Cyrq Energy Inc., Eavor Technologies Inc., Enel S.p.A., Engie SA, Exergy International SRL, Fervo Energy, First Gen Corporation, Fuji Electric Co., Ltd, General Electric Company, Geothermal Engineering Ltd., Halliburton Energy Services, Inc., Hitachi, Ltd., Holtec International, JFE Engineering Corporation, Kenya Electricity Generating Company Limited, Mitsubishi Heavy Industries, Ltd., Ormat Technologies, Inc., PT Pertamina Geothermal Energy Tbk, Quaise Energy, Reykjavik Geothermal, Schlumberger Limited, Siemens AG, Sumitomo Corporation, Tetra Tech, Inc., Thermax Limited, Toshiba Corporation, and Yokogawa Electric Corporation.

Market Segmentation & Coverage

This research report categorizes the Geothermal Power Generation Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Based on Component, market is studied across Generator, Heat Exchanger, Heat Pump, Separator, and Turbine.
• Based on Type, market is studied across Binary Cycle, Dry Steam, and Flash Steam.
• Based on Power Plant Size, market is studied across Large-scale Plants, Medium-scale Plants, and Small-scale Plants.
• Based on Site, market is studied across Offshore and Onshore.
• Based on Deployment Type, market is studied across New Deployments and Retrofit & Modernization.
• Based on Application, market is studied across District Heating, Food Processing, Gold Extraction, Irrigation, and Milk Pasteurizing.
• Based on Industry Verticals, market is studied across Commercial, Industrial, and Residential. The Industrial is further studied across Agriculture, Chemical, Fish Farming & Aquaculture, Food & Beverage, Mining, Paper & Pulp, and Power & Energy.
• Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Table of Contents

1. Preface

• 1.1. Objectives of the Study
• 1.2. Market Segmentation & Coverage
• 1.3. Years Considered for the Study
• 1.4. Currency & Pricing
• 1.5. Language
• 1.6. Stakeholders

2. Research Methodology

• 2.1. Define: Research Objective
• 2.2. Determine: Research Design
• 2.3. Prepare: Research Instrument
• 2.4. Collect: Data Source
• 2.5. Analyze: Data Interpretation
• 2.6. Formulate: Data Verification
• 2.7. Publish: Research Report
• 2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

• 5.1. Market Dynamics
  • 5.1.1. Drivers
    • 5.1.1.1. Growing energy demand due to rapid industrialization and urbanization
    • 5.1.1.2. Government-supportive policies and initiatives for renewable energy projects
  • 5.1.2. Restraints
    • 5.1.2.1. Significant upfront costs associated with geothermal power generation
  • 5.1.3. Opportunities
    • 5.1.3.1. Continuous improvements in drilling and exploration technologies
    • 5.1.3.2. Increasing number of partnerships and investments in geothermal power generation
  • 5.1.4. Challenges
    • 5.1.4.1. Stringent environmental issues associated with geothermal power generation
• 5.2. Market Segmentation Analysis
  • 5.2.1. Component: Increasing usage of turbines in geothermal power generation for efficiency and reliability
  • 5.2.2. Type: Burgeoning adoption of the binary cycle systems owing to their flexibility allow operation with lower temperature resources
  • 5.2.3. Power plant size: Adoption of medium-scale geothermal plants for regional energy production
  • 5.2.4. Site: Increasing demand for onshore geothermal power due to their accessibility
  • 5.2.5. Deployment type: Adoption of new deployments to reduce carbon emission
  • 5.2.6. Application: Increasing usage of geothermal power generation in food processing for sustainable food production
  • 5.2.7. Industry Verticals: Rising demand for geothermal power generation in the commercial sector for heating and cooling systems
• 5.3. Porter's Five Forces Analysis
  • 5.3.1. Threat of New Entrants
  • 5.3.2. Threat of Substitutes
  • 5.3.3. Bargaining Power of Customers
  • 5.3.4. Bargaining Power of Suppliers
  • 5.3.5. Industry Rivalry
• 5.4. PESTLE Analysis
  • 5.4.1. Political
  • 5.4.2. Economic
  • 5.4.3. Social
  • 5.4.4. Technological
  • 5.4.5. Legal
  • 5.4.6. Environmental

6. Geothermal Power Generation Market, by Component

• 6.1. Introduction
• 6.2. Generator
• 6.3. Heat Exchanger
• 6.4. Heat Pump
• 6.5. Separator
• 6.6. Turbine

7. Geothermal Power Generation Market, by Type

• 7.1. Introduction
• 7.2. Binary Cycle
• 7.3. Dry Steam
• 7.4. Flash Steam

8. Geothermal Power Generation Market, by Power Plant Size

• 8.1. Introduction
• 8.2. Large-scale Plants
• 8.3. Medium-scale Plants
• 8.4. Small-scale Plants

9. Geothermal Power Generation Market, by Site

• 9.1. Introduction
• 9.2. Offshore
• 9.3. Onshore

10. Geothermal Power Generation Market, by Deployment Type

• 10.1. Introduction
• 10.2. New Deployments
• 10.3. Retrofit & Modernization

11. Geothermal Power Generation Market, by Application

• 11.1. Introduction
• 11.2. District Heating
• 11.3. Food Processing
• 11.4. Gold Extraction
• 11.5. Irrigation
• 11.6. Milk Pasteurizing

12. Geothermal Power Generation Market, by Industry Verticals

• 12.1. Introduction
• 12.2. Commercial
• 12.3. Industrial
  • 12.3.1. Agriculture
  • 12.3.2. Chemical
  • 12.3.3. Fish Farming & Aquaculture
  • 12.3.4. Food & Beverage
  • 12.3.5. Mining
  • 12.3.6. Paper & Pulp
  • 12.3.7. Power & Energy
• 12.4. Residential

13. Americas Geothermal Power Generation Market

• 13.1. Introduction
• 13.2. Argentina
• 13.3. Brazil
• 13.4. Canada
• 13.5. Mexico
• 13.6. United States

14. Asia-Pacific Geothermal Power Generation Market

• 14.1. Introduction
• 14.2. Australia
• 14.3. China
• 14.4. India
• 14.5. Indonesia
• 14.6. Japan
• 14.7. Malaysia
• 14.8. Philippines
• 14.9. Singapore
• 14.10. South Korea
• 14.11. Taiwan
• 14.12. Thailand
• 14.13. Vietnam

15. Europe, Middle East & Africa Geothermal Power Generation Market

• 15.1. Introduction
• 15.2. Denmark
• 15.3. Egypt
• 15.4. Finland
• 15.5. France
• 15.6. Germany
• 15.7. Israel
• 15.8. Italy
• 15.9. Netherlands
• 15.10. Nigeria
• 15.11. Norway
• 15.12. Poland
• 15.13. Qatar
• 15.14. Russia
• 15.15. Saudi Arabia
• 15.16. South Africa
• 15.17. Spain
• 15.18. Sweden
• 15.19. Switzerland
• 15.20. Turkey
• 15.21. United Arab Emirates
• 15.22. United Kingdom

16. Competitive Landscape

• 16.1. Market Share Analysis, 2023
• 16.2. FPNV Positioning Matrix, 2023
• 16.3. Competitive Scenario Analysis
  • 16.3.1. XGS Energy acquired Capuano Engineering to enhance geothermal technology with a Thermal Reach Enhancement system and USD 20 million funding
  • 16.3.2. Zanskar Geothermal & Minerals, Inc. acquired the Lightning Dock geothermal power plant in New Mexico
  • 16.3.3. SLB and Ormat Technologies, Inc. partner to deliver comprehensive geothermal solutions
  • 16.3.4. Western Energy and Mitsubishi Gas Chemical Company signed an MoU to accelerate geothermal power growth, enhancing renewable energy and trade ties for a sustainable future
  • 16.3.5. Google LLC partnered with Berkshire Hathaway's NV Energy to power Nevada data centers with 115 megawatts of geothermal electricity
  • 16.3.6. Kyuden Mirai Energy announced the construction of the 4990 kW Kirishima Eboshi-dake geothermal power plant
  • 16.3.7. Energy Development Corporation launched the USD 120 million Palayan Bayan binary geothermal power plant in Albay
  • 16.3.8. Aboitiz Renewables Inc. accelerates sustainable growth with significant investments in the launching of solar and geothermal projects
  • 16.3.9. Fervo Energy secures USD 244 million funding led by Devon Energy to scale next-gen geothermal tech globally, aiming for cost-efficiency and enhanced productivity
  • 16.3.10. Ormat Technologies acquired Geothermal and Solar Assets for USD 271 Million from Enel Green Power North America (EGPNA), a subsidiary of Enel SpA (ENEL.MI), to expand its energy-renewable portfolio
• 16.4. Strategy Analysis & Recommendation
  • 16.4.1. Mitsubishi Corporation
  • 16.4.2. Toshiba Corporation
  • 16.4.3. ABB Ltd.
  • 16.4.4. Berkshire Hathaway Energy Company

Companies Mentioned

• 1. ABB Ltd.
• 2. Aboitiz Power Corporation
• 3. Altarock Energy Inc.
• 4. Ansaldo Energia S.p.A.
• 5. Atlas Copco Group
• 6. Baker Hughes Company
• 7. Berkshire Hathaway Energy Company
• 8. Calpine Corporation
• 9. Carrier Global Corporation
• 10. CeraPhi Energy
• 11. Climatemaster, Inc.
• 12. Contact Energy Limited
• 13. COWI A/S
• 14. Cyrq Energy Inc.
• 15. Eavor Technologies Inc.
• 16. Enel S.p.A.
• 17. Engie SA
• 18. Exergy International SRL
• 19. Fervo Energy
• 20. First Gen Corporation
• 21. Fuji Electric Co., Ltd
• 22. General Electric Company
• 23. Geothermal Engineering Ltd.
• 24. Halliburton Energy Services, Inc.
• 25. Hitachi, Ltd.
• 26. Holtec International
• 27. JFE Engineering Corporation
• 28. Kenya Electricity Generating Company Limited
• 29. Mitsubishi Heavy Industries, Ltd.
• 30. Ormat Technologies, Inc.
• 31. PT Pertamina Geothermal Energy Tbk
• 32. Quaise Energy
• 33. Reykjavik Geothermal
• 34. Schlumberger Limited
• 35. Siemens AG
• 36. Sumitomo Corporation
• 37. Tetra Tech, Inc.
• 38. Thermax Limited
• 39. Toshiba Corporation
• 40. Yokogawa Electric Corporation